Cape Town Real Estate - Get it sold
Category Home for sale tips
Property been on the market forever? Here’s how to turn things around.
History is backed up by statistics, which indicate that a house which is sold within the first four to five weeks of being listed, is likely to achieve its optimal selling price. This is particularly true of a seller’s market which is defined by high demand. The more buyers there are, the more offers there are likely to be and the greater the competition, thus pushing selling prices up.
Unrealistically high asking prices, even in a market with high demand, will take longer to sell and can, as time passes, prove to be quite costly in many ways.
•Buyers soon learn market value by comparing your property with others they have seen. If your house is priced too high they are likely to dismiss it.
Tips towards a faster sale
• Avoid over exposing a home. A home which is seen for month after month in the media, or on show, can make the competing and more appropriately priced properties look more attractive. The result is that as time passes, offers to purchase can start dropping in value.
• Try out some new photographic angles. Exchange an outside hero shot with an indoor one or shoot at a different time of day.
• Think of more interesting ways to describe your property, and in doing so, focus on your ideal buyer and the lifestyle your property offers. Add something interesting and attractive about your area and its convenience to amenities such as sporting facilities, schools, public transport or greenbelts.
Go comparison shopping
A trained and experienced Cape Town estate agent will advise you on how your property measures up against similar properties in the vicinity. You could also attend show days of other homes in your area and chat to buyers to gather insight into what they’re looking for.
• Listen and learn. If interest is low, and offers have been paltry, ask your agent for a frank commentary on what people have said about the property. If it’s possible to act on any of the suggestions, such as a clean-up, a damp damage repair, or a quick facelift thanks to a lick of paint, then do so. If the work required is beyond your budget, you might have to lower your price to allow a buyer to budget for renovations.
• Take a holiday from the market. A property which lingers on the market starts to send negative messages to buyers – they assume something is wrong with it, so many might not even look at it after seeing it advertised time and time again. A buyer might even take advantage of the situation and use the extended time your home has been on the market to negotiate a lower price. When you re-enter the market, a new crop of buyers will be looking at properties in Cape Town so you get to have a fresh new chance.